The research of Chinese karst ecological hydrology

1. Introduction The area of carbonate rocks protruding through the soil level in China is 9.07*105km2. According to the area of carbonate rocks stratum protruding through the soil level, it is 2.06*106km2. With the buried carbonate rocks stratum of the different depths, its total area can reach 3.443*106km2, ap- proximately accounting for 1/3 of the national terri- torial area. Chinese carbonate rock is mainly distributed to the south of the latitude belt of Tianshan Mountain – Yinshan Moun…     

Simulation driven inferences for multiply imputed longitudinal datasets*

In this article, we demonstrate by simulations that rich imputation models for incomplete longitudinal datasets produce more calibrated estimates in terms of reduced bias and higher coverage rates without duly deflating the efficiency. We argue that the use of supplementary variables that are thought to be potential causes or correlates of missingness or outcomes in the imputation process may lead to better inferential results in comparison to simpler imputation models. The liberal use of these variables is recommended as opposed to the conservative strategy.     

东北区域创新体系建设的行政协调体系研究

在对区域行政协调体系理论进行研究的基础上，通过研究借鉴“长三角”和“泛珠三角”以及发达国家区域行政协调机制的经验，对东北区域创新体系的行政协调模式、行政协调的组织架构以及各机构职能设计做出了初步的探索，并提出了一些具体操作建议。     

试论波特劳勒“综合激励模型”的应用

知识型员工是知识经济时代出现的新型工作群体熏他们是知识资本的掌握者,是企业最为宝贵的资源熏文章通过对波特劳勒综合激励模型理论的分析认为:对知识型员工的激励熏应建立在满足其较高层次需要的基础上熏在激励策略方面熏主要采取报酬激励、精神激励和工作激励等方式熏并且应根据知识型员工不同的特点,选择不同的激励方式组合,才能充分发挥知识型员工的工作积极性。     

基于主成分分析的多元线性回归用水量模型研究——以安徽省为例

用水量的准确预测对水资源规划具有重要意义。根据统计资料,选取了八项主要影响用水量变化的指标。按照主成分分析法原理,运用少数综合因子对影响用水量变化的原有八项指标进行了综合和简化,并研究其贡献率及综合效应;分析了用水量增长的特点,选用Logistic方程对综合因子进行回归分析;结合多元线性回归方法,建立了安徽省用水量模型;拟合结果表明,模型具有较高的精度;运用该模型,对安徽省2010年的用水量进行了预测;为水资源规划与管理提供参考依据。     

城市污水和垃圾处理的市场化机制研究

分析城市污水和垃圾处理市场化的现状及存在问题，研究发达国家的成功经验，提出我国城市污水和垃圾处理市场化的模式和所要采取的措施．     

Multiple Listing Service Subsidies and Economic Efficiency

In an earlier article in this journal, Sefton and Yavas (1995) concluded that subsidizing a monopoly multiple listing service (MLS) can be efficient when the curvature of the representative consumer's demand function leads to overshifting. This paper extends their analysis to a multiple-consumer demand model. It shows that, for the generalized demand configuration considered here, in general, there is no Pareto superior MLS subsidy supportable by nondiscriminatory MLS consumer taxes when the Pareto ranking is imposed without the Hicks–Kaldor compensation principle.     

Assessing the Least Squares Monte-Carlo Approach to American Option Valuation

A detailed analysis of the Least Squares Monte-Carlo (LSM) approach to American option valuation suggested in Longstaff and Schwartz (2001) is performed. We compare the specification of the cross-sectional regressions with Laguerre polynomials used in Longstaff and Schwartz (2001) with alternative specifications and show that some of these have numerically better properties. Furthermore, each of these specifications leads to a trade-off between the time used to calculate a price and the precision of that price. Comparing the method-specific trade-offs reveals that a modified specification using ordinary monomials is preferred over the specification based on Laguerre polynomials. Next, we generalize the pricing problem by considering options on multiple assets and we show that the LSM method can be implemented easily for dimensions as high as ten or more. Furthermore, we show that the LSM method is computationally more efficient than existing numerical methods. In particular, when the number of assets is high, say five, Finite Difference methods are infeasible, and we show that our modified LSM method is superior to the Binomial Model.     

Optimal pair-trading strategy over long/short/square positions—empirical study

Suzuki [Automatica, 2016, 67, 33–45] solves the optimal, finitely iterative, three-regime switching problem for investing in a mean-reverting asset that follows an Ornstein–Uhlenbeck price process and find explicit solutions. The remarkable feature of this model is that the investor can explicitly take either a long, short or square position and can switch the position, with transaction costs, during the investment period. We run empirical simulations of such multiple-regime switching models. There are very few such attempts in the existing literature because it is difficult to find, first, an explicit solution to the problem and second, appropriate financial assets that follow the artificial stochastic process required by the mathematical model. According to the Monte Carlo simulations of the optimal pair-trading strategy, the mean daily Sharp ratio is more than 2.3, whereas the mean Sharp ratio for the historical simulation of the ‘stub’ pairs (combinations of parent/subsidiary companies) is 0.6886. We believe that the results obtained from performing the empirical simulations are remarkable and consider that the optimal switching strategy of the rigorous mathematical model is applicable to businesses in the real world. For the reference many pseudo-program codes are added, which can help to replicate the optimal trading strategies.     

A Multiple and Partial Wavelet Analysis of the Oil Price,Inflation, Exchange Rate,and Economic Growth Nexus in Saudi Arabia

This article provides a fresh insight into the dynamic nexus between oil prices, the Saudi/US dollar exchange rate, inflation, and output growth rate in Saudi Arabia’ economy, using novel Morlet’ wavelet methods. Specifically, it implements various tools of methodology: the continuous wavelet power spectrum, the cross-wavelet power spectrum, the wavelet coherency, the multiple and the partial wavelet coherence to the annual sample period 1969–2014. Our results unveil that the relationships among the variables evolve through time and frequency. From the time-domain view, we show strong but non-homogenous linkages between the four variables. From the frequency-domain view, we uncover significant wavelet coherences and strong lead-lag relationships. From an economic view, the wavelet analysis shows that Saudi economy is still exposed to several global risk factors, which are mainly related to the oil market volatility, and the pegging of the local currency to the US dollar. Such risk factors strongly and negatively affect the real economic growth, exert more pressure on inflation, and substantially limit the freedom to pursue an independent monetary policy.